As 2024 unfolds, Kiwis find themselves bracing for further economic turbulence in the short term, with the cost-of-living crisis continuing to exert pressure on households. However, amidst these immediate challenges, there are glimmers of hope on the horizon, particularly for mortgage holders who may see relief in the medium to…

Homeowners in New Zealand are turning to short-term fixed-rate mortgages as recovery is on the horizon. This trend signals a departure from the traditional long-term fixed-rate loans that have long dominated the mortgage market. With the Reserve Bank of New Zealand’s recent decision to maintain historically low interest rates, many…

New Zealand’s government has recently declared a 2 per cent increase in the minimum wage, equating to a 45-cent hourly raise, effective April 1. This adjustment will elevate the minimum wage to $23.15, up from the previous $22.70, marking the slowest growth rate in a decade. Despite this raise, concerns…

Recent data from Statistics NZ suggests a notable shift in the food price landscape. While the 4.8 per cent inflation rate remains outside the target range of 1 per cent to 3 per cent, it still marks a significant improvement from the peak level of 12.5 per cent earlier in…

Changes in home loan interest rates continue to reshape the financial landscapes of households across the nation. According to ASB economists, a staggering 90 per cent of the strain stemming from these rate hikes has been borne by households, revealing a significant economic challenge on the horizon. ASB’s senior economist,…

According to a report released by ASB Bank, New Zealand households are likely to experience another difficult year financially. Costs are forecast to rise by an average of $70/week, as high interest rates are expected to continue for well into next year at least. According to Mark Smith, ASB Bank’s…

According to a CoreLogic report released on Thursday, the share of first-time home buyers has risen to a record high. This high of 27 per cent might be encouraging for other potential first-time buyers, but any cause for optimism is likely to be cancelled out by future house price rises…

The New Zealand stock market fell in August by 4.2 percent and 2.2 percent the following month. The market has also dropped by another 3.6 percent in October so far. Goodson went on to explain that the market is under pressure from a pincer movement, as it’s caught between modest…

The housing market appears to be back on the path to recovery as the latest average home value was found to have risen by 0.9 per cent for the three months ending in August. This is according to Quotable Value (QV), whose House Price Index has remained largely unchanged in…

The Banking Ombudsman annual report confirms that about a third of the annual investigations it conducts are now bank-related, with victims suffering an average loss of $57,000 and costing an overall of over $200 million a year. Ombudsman Nicola Sladden said that the sharp increase in banking scams was worrying…